Well-known venture capital firm a16z crypto has sent a message to cryptocurrency founders: You can finally breathe a sigh of relief when it comes to regulation.
a16z noted in a new post: "The good news is that there is now a path for constructive engagement with regulators and legislation that can bring regulatory clarity, and you should all feel empowered to explore all the breakthrough products and services supported by blockchain, including tokens."
The post, written by a16z crypto's head of policy and regulation and its general counsel, expressed optimistic expectations for the relaxation of regulation and governance in the cryptocurrency industry under the new administration, but the "vast majority" of speculation about the details of this system is just "noise."
The post specifically notes that token issuance is an activity founders can feel more confident about: “For many of you who have been put off using tokens to distribute project control and build community due to concerns about overregulation, now you should feel more confident that your project can use tokens as a legal, compliant tool.”
Authors Miles Jennings, Brian Quintenz, and Michele Korver also mentioned a16z’s plans for the next year: “Next year, we will advocate for clear regulatory frameworks that promote and support innovation and decentralization… We will also soon release new guidance on the use of Decentralized Nonprofit Associations (DUNAs) that are designed to be U.S.-based, insulate token holders from liability, manage tax and compliance requirements, and promote more economic activity,” and mentioned Wyoming’s unique law on DAOs.
While the post is generally optimistic, the authors also note that some actions may still fall foul of regulators, “While we may have more flexibility to experiment, we must not forget that the fundamental regulatory principles that apply to blockchain systems remain the same,” and advise founders to “continue to focus on eliminating centralized aspects or reliance on trust in your projects, as these areas will continue to receive regulatory scrutiny.”
Former President Donald Trump, who called himself a pro-crypto candidate, planned to end the "anti-crypto movement" within an hour of taking office, but his team remained silent on specific policies. Gary Gensler, the current chairman of the SEC, will serve until 2026, and Trump cannot immediately remove him from office. The president can only fire SEC commissioners for "inefficiency, dereliction of duty or malfeasance." Current President Joe Biden nominated Caroline Crenshaw for re-election as an SEC commissioner, and the Senate is expected to vote next month. Trump became the first former president to be convicted of a felony last month and faces multiple charges.
Greg Solano, co -founder of Yuga Labs, has released a memorandum of announcing the company's reorganization since the CEO of the company in February.
Regarding the reorganization announcement, Solano said: "Today is a very difficult day. I am determined to change Yuga and let us return to the original original intention, which means making difficult decisions. So far, the hardest decision is to say goodbye to some talents. team member."
In the memorandum, Solano said that Yuga Labs "lost direction" will focus on the establishment of "a smaller, more flexible, and more encrypted team"
Eli Ben-Sasson, co-founder and CEO of Starkware, emphasized the roadmap of Starknet in an interview with Decrypt interview with "STRK's initial unlocking a large number of investors and early contributors". It will cause damage to the community.
Ben-Sasson said that the structure of the Starknet airdrop is indeed different from the traditional model, and the team's views on things are slightly different, and they believe that this is the advantage of Starkware rather than the disadvantage. The team believes that users are concerned about whether developers in Starkware or Starknet ecosystems will still be on the Starknet network and whether they can continue to promote network development in three months or one year. Here he can guarantee that the 150 employees of Starkware and its expanding team's only attention is to promote the development of Starknet. In order to do this, ELI rejected a very attractive position in the academic world.
As for worrying that investors may be eager to sell the Strk tokens in April, which affects the price of STRK, Ben-Sasson emphasized that extending the tokens' lock-up period can not stop this situation. occur. Starkware made a decision to believe that these people have received their due rewards for their contributions, and their individuals and teams do not have an improper use of the airdrop structure. When focusing on long -term development, unnecessary delaying locking period is not the right practice.
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The US Securities and Exchange Commission (SEC) held a closed -door meeting on Thursday, August 31, 2023. There were rumors that this confidential meeting may involve reconciliation with Ripple. The U.S. Securities and Exchange Commission's subsequent release of the "The Sunshine Act Notice" provides limited details about the meeting, and also leaves space for market speculation. It is said that the relevant discussion themes involve the formulation and settlement of the ban operation, and Administrative litigation agencies are related to the resolution of, resolution of litigation claims, and other matters related to inspection and law enforcement procedures. It should be noted that as of now, the US Securities and Exchange Commission and Ripple Labs have not yet provided official confirmation or any specific details about the discussion.
Golden Finance previously reported that Ripple proposed a motion against the SEC intermediate appeal.
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